In today’s market place, there are many indicators for Pfizer Inc. (NYSE:PFE) readers to keep an eye on, but it’s smart to take note of a stock’s short interest. Some metrics typically used are: (a) the percentage of a stock’s tradable shares that the shorts are presently shorting, in addition to (b) the change in shorting activity.
Augmented shorting usually indicates what it implies: the Street has become less bullish on a company. Overselling, however, sometimes has a positive effect on stock price, as short-ers may be forced to buy their shares.
Within Insider Monkey, it’s no secret that we monitor hedge fund interest, but it’s also important to combine this information with overall short sale information. In some high-profile cases, large investors could disclose that they’re short on a stock, but it is not an SEC requirement. Nonetheless, some individual investors might wish to stay away from highly shorted stocks with high hedgie investment, while others might desire short-squeeze plays. For traders wanting a proven piggybacking strategy, discover the details of our premium strategy.
Without further ado, let’s take a gander at the recent info surrounding Pfizer Inc. (NYSE:PFE).
Analyzing the most recent FINRA short interest data, which is reported two times each month, we can discover that Pfizer Inc. (NYSE:PFE) sports a short interest of 0.80% of float, a moderate drop from the previous month. With a float of 7.09B shares, this represents a short ratio of 1.50.
It is also crucial to take note of hedge fund sentiment via their 13F forms. Of the funds we track, Fisher Asset Management, managed by Ken Fisher, holds the biggest position in Pfizer Inc. (NYSE:PFE). Fisher Asset Management has a $886.3 million position in the stock, comprising 2.4% of its 13F portfolio. The 2nd biggest stake is held by Rob Citrone of Discovery Capital Management, with a $508.1 million position; the fund has 6.8% of its 13F portfolio invested in the stock. Other peers with similar optimism include Donald Yacktman’s Yacktman Asset Management, Phill Gross and Robert Atchinson’s Adage Capital Management and Donald Chiboucis’s Columbus Circle Investors.
Also, insider buying is particularly usable when the company we’re looking at has experienced transactions within the past 180 days. Over the last 180-day time frame, Pfizer Inc. (NYSE:PFE) has experienced zero unique insiders purchasing, and 11 insider sales (see the details of insider trades here).
Let’s go over activity in other stocks similar to Pfizer Inc. (NYSE:PFE). These stocks are GlaxoSmithKline plc (ADR) (NYSE:GSK), Merck & Co., Inc. (NYSE:MRK), Sanofi SA (ADR) (NYSE:SNY), Johnson & Johnson (NYSE:JNJ), and Novartis AG (ADR) (NYSE:NVS). This group of stocks are in the drug manufacturers – major industry and their market caps match PFE’s market cap.